National Museum of Scotland reopens after three-year redevelopment

Friday, July 29, 2011

Today sees the reopening of the National Museum of Scotland following a three-year renovation costing £47.4 million (US$ 77.3 million). Edinburgh’s Chambers Street was closed to traffic for the morning, with the 10am reopening by eleven-year-old Bryony Hare, who took her first steps in the museum, and won a competition organised by the local Evening News paper to be a VIP guest at the event. Prior to the opening, Wikinews toured the renovated museum, viewing the new galleries, and some of the 8,000 objects inside.

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Dressed in Victorian attire, Scottish broadcaster Grant Stott acted as master of ceremonies over festivities starting shortly after 9am. The packed street cheered an animatronic Tyrannosaurus Rex created by Millenium FX; onlookers were entertained with a twenty-minute performance by the Mugenkyo Taiko Drummers on the steps of the museum; then, following Bryony Hare knocking three times on the original doors to ask that the museum be opened, the ceremony was heralded with a specially composed fanfare – played on a replica of the museum’s 2,000-year-old carnyx Celtic war-horn. During the fanfare, two abseilers unfurled white pennons down either side of the original entrance.

The completion of the opening to the public was marked with Chinese firecrackers, and fireworks, being set off on the museum roof. As the public crowded into the museum, the Mugenkyo Taiko Drummers resumed their performance; a street theatre group mingled with the large crowd, and the animatronic Tyrannosaurus Rex entertained the thinning crowd of onlookers in the centre of the street.

On Wednesday, the museum welcomed the world’s press for an in depth preview of the new visitor experience. Wikinews was represented by Brian McNeil, who is also Wikimedia UK’s interim liaison with Museum Galleries Scotland.

The new pavement-level Entrance Hall saw journalists mingle with curators. The director, Gordon Rintoul, introduced presentations by Gareth Hoskins and Ralph Applebaum, respective heads of the Architects and Building Design Team; and, the designers responsible for the rejuvenation of the museum.

Describing himself as a “local lad”, Hoskins reminisced about his grandfather regularly bringing him to the museum, and pushing all the buttons on the numerous interactive exhibits throughout the museum. Describing the nearly 150-year-old museum as having become “a little tired”, and a place “only visited on a rainy day”, he commented that many international visitors to Edinburgh did not realise that the building was a public space; explaining the focus was to improve access to the museum – hence the opening of street-level access – and, to “transform the complex”, focus on “opening up the building”, and “creating a number of new spaces […] that would improve facilities and really make this an experience for 21st century museum visitors”.

Hoskins explained that a “rabbit warren” of storage spaces were cleared out to provide street-level access to the museum; the floor in this “crypt-like” space being lowered by 1.5 metres to achieve this goal. Then Hoskins handed over to Applebaum, who expressed his delight to be present at the reopening.

Applebaum commented that one of his first encounters with the museum was seeing “struggling young mothers with two kids in strollers making their way up the steps”, expressing his pleasure at this being made a thing of the past. Applebaum explained that the Victorian age saw the opening of museums for public access, with the National Museum’s earlier incarnation being the “College Museum” – a “first window into this museum’s collection”.

Have you any photos of the museum, or its exhibits?

The museum itself is physically connected to the University of Edinburgh’s old college via a bridge which allowed students to move between the two buildings.

Applebaum explained that the museum will, now redeveloped, be used as a social space, with gatherings held in the Grand Gallery, “turning the museum into a social convening space mixed with knowledge”. Continuing, he praised the collections, saying they are “cultural assets [… Scotland is] turning those into real cultural capital”, and the museum is, and museums in general are, providing a sense of “social pride”.

McNeil joined the yellow group on a guided tour round the museum with one of the staff. Climbing the stairs at the rear of the Entrance Hall, the foot of the Window on the World exhibit, the group gained a first chance to see the restored Grand Gallery. This space is flooded with light from the glass ceiling three floors above, supported by 40 cast-iron columns. As may disappoint some visitors, the fish ponds have been removed; these were not an original feature, but originally installed in the 1960s – supposedly to humidify the museum; and failing in this regard. But, several curators joked that they attracted attention as “the only thing that moved” in the museum.

The museum’s original architect was Captain Francis Fowke, also responsible for the design of London’s Royal Albert Hall; his design for the then-Industrial Museum apparently inspired by Joseph Paxton’s Crystal Palace.

The group moved from the Grand Gallery into the Discoveries Gallery to the south side of the museum. The old red staircase is gone, and the Millennium Clock stands to the right of a newly-installed escalator, giving easier access to the upper galleries than the original staircases at each end of the Grand Gallery. Two glass elevators have also been installed, flanking the opening into the Discoveries Gallery and, providing disabled access from top-to-bottom of the museum.

The National Museum of Scotland’s origins can be traced back to 1780 when the 11th Earl of Buchan, David Stuart Erskine, formed the Society of Antiquaries of Scotland; the Society being tasked with the collection and preservation of archaeological artefacts for Scotland. In 1858, control of this was passed to the government of the day and the National Museum of Antiquities of Scotland came into being. Items in the collection at that time were housed at various locations around the city.

On Wednesday, October 28, 1861, during a royal visit to Edinburgh by Queen Victoria, Prince-Consort Albert laid the foundation-stone for what was then intended to be the Industrial Museum. Nearly five years later, it was the second son of Victoria and Albert, Prince Alfred, the then-Duke of Edinburgh, who opened the building which was then known as the Scottish Museum of Science and Art. A full-page feature, published in the following Monday’s issue of The Scotsman covered the history leading up to the opening of the museum, those who had championed its establishment, the building of the collection which it was to house, and Edinburgh University’s donation of their Natural History collection to augment the exhibits put on public display.

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Selection of views of the Grand GalleryImage: Brian McNeil.

Selection of views of the Grand GalleryImage: Brian McNeil.

Selection of views of the Grand GalleryImage: Brian McNeil.

Closed for a little over three years, today’s reopening of the museum is seen as the “centrepiece” of National Museums Scotland’s fifteen-year plan to dramatically improve accessibility and better present their collections. Sir Andrew Grossard, chair of the Board of Trustees, said: “The reopening of the National Museum of Scotland, on time and within budget is a tremendous achievement […] Our collections tell great stories about the world, how Scots saw that world, and the disproportionate impact they had upon it. The intellectual and collecting impact of the Scottish diaspora has been profound. It is an inspiring story which has captured the imagination of our many supporters who have helped us achieve our aspirations and to whom we are profoundly grateful.

The extensive work, carried out with a view to expand publicly accessible space and display more of the museums collections, carried a £47.4 million pricetag. This was jointly funded with £16 million from the Scottish Government, and £17.8 million from the Heritage Lottery Fund. Further funds towards the work came from private sources and totalled £13.6 million. Subsequent development, as part of the longer-term £70 million “Masterplan”, is expected to be completed by 2020 and see an additional eleven galleries opened.

The funding by the Scottish Government can be seen as a ‘canny‘ investment; a report commissioned by National Museums Scotland, and produced by consultancy firm Biggar Economics, suggest the work carried out could be worth £58.1 million per year, compared with an estimated value to the economy of £48.8 prior to the 2008 closure. Visitor figures are expected to rise by over 20%; use of function facilities are predicted to increase, alongside other increases in local hospitality-sector spending.

Proudly commenting on the Scottish Government’s involvement Fiona Hyslop, Cabinet Secretary for Culture and External Affairs, described the reopening as, “one of the nation’s cultural highlights of 2011” and says the rejuvenated museum is, “[a] must-see attraction for local and international visitors alike“. Continuing to extol the museum’s virtues, Hyslop states that it “promotes the best of Scotland and our contributions to the world.

So-far, the work carried out is estimated to have increased the public space within the museum complex by 50%. Street-level storage rooms, never before seen by the public, have been transformed into new exhibit space, and pavement-level access to the buildings provided which include a new set of visitor facilities. Architectural firm Gareth Hoskins have retained the original Grand Gallery – now the first floor of the museum – described as a “birdcage” structure and originally inspired by The Crystal Palace built in Hyde Park, London for the 1851 Great Exhibition.

The centrepiece in the Grand Gallery is the “Window on the World” exhibit, which stands around 20 metres tall and is currently one of the largest installations in any UK museum. This showcases numerous items from the museum’s collections, rising through four storeys in the centre of the museum. Alexander Hayward, the museums Keeper of Science and Technology, challenged attending journalists to imagine installing “teapots at thirty feet”.

The redeveloped museum includes the opening of sixteen brand new galleries. Housed within, are over 8,000 objects, only 20% of which have been previously seen.

  • Ground floor
  • First floor
  • Second floor
  • Top floor

The Window on the World rises through the four floors of the museum and contains over 800 objects. This includes a gyrocopter from the 1930s, the world’s largest scrimshaw – made from the jaws of a sperm whale which the University of Edinburgh requested for their collection, a number of Buddha figures, spearheads, antique tools, an old gramophone and record, a selection of old local signage, and a girder from the doomed Tay Bridge.

The arrangement of galleries around the Grand Gallery’s “birdcage” structure is organised into themes across multiple floors. The World Cultures Galleries allow visitors to explore the culture of the entire planet; Living Lands explains the ways in which our natural environment influences the way we live our lives, and the beliefs that grow out of the places we live – from the Arctic cold of North America to Australia’s deserts.

The adjacent Patterns of Life gallery shows objects ranging from the everyday, to the unusual from all over the world. The functions different objects serve at different periods in peoples’ lives are explored, and complement the contents of the Living Lands gallery.

Performance & Lives houses musical instruments from around the world, alongside masks and costumes; both rooted in long-established traditions and rituals, this displayed alongside contemporary items showing the interpretation of tradition by contemporary artists and instrument-creators.

The museum proudly bills the Facing the Sea gallery as the only one in the UK which is specifically based on the cultures of the South Pacific. It explores the rich diversity of the communities in the region, how the sea shapes the islanders’ lives – describing how their lives are shaped as much by the sea as the land.

Both the Facing the Sea and Performance & Lives galleries are on the second floor, next to the new exhibition shop and foyer which leads to one of the new exhibition galleries, expected to house the visiting Amazing Mummies exhibit in February, coming from Leiden in the Netherlands.

The Inspired by Nature, Artistic Legacies, and Traditions in Sculpture galleries take up most of the east side of the upper floor of the museum. The latter of these shows the sculptors from diverse cultures have, through history, explored the possibilities in expressing oneself using metal, wood, or stone. The Inspired by Nature gallery shows how many artists, including contemporary ones, draw their influence from the world around us – often commenting on our own human impact on that natural world.

Contrastingly, the Artistic Legacies gallery compares more traditional art and the work of modern artists. The displayed exhibits attempt to show how people, in creating specific art objects, attempt to illustrate the human spirit, the cultures they are familiar with, and the imaginative input of the objects’ creators.

The easternmost side of the museum, adjacent to Edinburgh University’s Old College, will bring back memories for many regular visitors to the museum; but, with an extensive array of new items. The museum’s dedicated taxidermy staff have produced a wide variety of fresh examples from the natural world.

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At ground level, the Animal World and Wildlife Panorama’s most imposing exhibit is probably the lifesize reproduction of a Tyrannosaurus Rex skeleton. This rubs shoulders with other examples from around the world, including one of a pair of elephants. The on-display elephant could not be removed whilst renovation work was underway, and lurked in a corner of the gallery as work went on around it.

Above, in the Animal Senses gallery, are examples of how we experience the world through our senses, and contrasting examples of wildly differing senses, or extremes of such, present in the natural world. This gallery also has giant screens, suspended in the free space, which show footage ranging from the most tranquil and peaceful life in the sea to the tooth-and-claw bloody savagery of nature.

The Survival gallery gives visitors a look into the ever-ongoing nature of evolution; the causes of some species dying out while others thrive, and the ability of any species to adapt as a method of avoiding extinction.

Earth in Space puts our place in the universe in perspective. Housing Europe’s oldest surviving Astrolabe, dating from the eleventh century, this gallery gives an opportunity to see the technology invented to allow us to look into the big questions about what lies beyond Earth, and probe the origins of the universe and life.

In contrast, the Restless Earth gallery shows examples of the rocks and minerals formed through geological processes here on earth. The continual processes of the planet are explored alongside their impact on human life. An impressive collection of geological specimens are complemented with educational multimedia presentations.

Beyond working on new galleries, and the main redevelopment, the transformation team have revamped galleries that will be familiar to regular past visitors to the museum.

Formerly known as the Ivy Wu Gallery of East Asian Art, the Looking East gallery showcases National Museums Scotland’s extensive collection of Korean, Chinese, and Japanese material. The gallery’s creation was originally sponsored by Sir Gordon Wu, and named after his wife Ivy. It contains items from the last dynasty, the Manchu, and examples of traditional ceramic work. Japan is represented through artefacts from ordinary people’s lives, expositions on the role of the Samurai, and early trade with the West. Korean objects also show the country’s ceramic work, clothing, and traditional accessories used, and worn, by the indigenous people.

The Ancient Egypt gallery has always been a favourite of visitors to the museum. A great many of the exhibits in this space were returned to Scotland from late 19th century excavations; and, are arranged to take visitors through the rituals, and objects associated with, life, death, and the afterlife, as viewed from an Egyptian perspective.

The Art and Industry and European Styles galleries, respectively, show how designs are arrived at and turned into manufactured objects, and the evolution of European style – financed and sponsored by a wide range of artists and patrons. A large number of the objects on display, often purchased or commissioned, by Scots, are now on display for the first time ever.

Shaping our World encourages visitors to take a fresh look at technological objects developed over the last 200 years, many of which are so integrated into our lives that they are taken for granted. Radio, transportation, and modern medicines are covered, with a retrospective on the people who developed many of the items we rely on daily.

What was known as the Museum of Scotland, a modern addition to the classical Victorian-era museum, is now known as the Scottish Galleries following the renovation of the main building.

This dedicated newer wing to the now-integrated National Museum of Scotland covers the history of Scotland from a time before there were people living in the country. The geological timescale is covered in the Beginnings gallery, showing continents arranging themselves into what people today see as familiar outlines on modern-day maps.

Just next door, the history of the earliest occupants of Scotland are on display; hunters and gatherers from around 4,000 B.C give way to farmers in the Early People exhibits.

The Kingdom of the Scots follows Scotland becoming a recognisable nation, and a kingdom ruled over by the Stewart dynasty. Moving closer to modern-times, the Scotland Transformed gallery looks at the country’s history post-union in 1707.

Industry and Empire showcases Scotland’s significant place in the world as a source of heavy engineering work in the form of rail engineering and shipbuilding – key components in the building of the British Empire. Naturally, whisky was another globally-recognised export introduced to the world during empire-building.

Lastly, Scotland: A Changing Nation collects less-tangible items, including personal accounts, from the country’s journey through the 20th century; the social history of Scots, and progress towards being a multicultural nation, is explored through heavy use of multimedia exhibits.

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Alaska senator Ted Stevens indicted in corruption scandal

Tuesday, July 29, 2008

United States Senator Ted Stevens of Alaska has been indicted by federal grand jury on seven criminal counts for making false statements in his Senate financial disclosure forms. The longest-serving Republican in the Senate, Stevens is the highest-profile politician ensnared in the corruption scandal surrounding VECO Corporation and its executives’ attempts to influence politics.

VECO, a subsidiary of CH2M Hill as of September 2007, is an oil pipeline and services company. It is alleged to have funded renovations to the Stevens home in Girdwood, Alaska in 2000. The renovations include a new garage and first floor, a two story wrap-around deck, as well as new wiring and plumbing. In 2007, VECO chief executive Bill Allen pleaded guilty to charges of extortion, bribery, and conspiracy.

The 28-page indictment alleges that Stevens “knowingly and willfully engaged in a scheme to conceal” gifts from VECO, which totaled “hundreds of thousands of dollars worth of things of value.”

A press release was issued by Stevens’ office in response to the allegations: “I am innocent of these charges and intend to prove that.” And Stevens himself commented, “I have never knowingly submitted a false disclosure form required by law as a U.S. senator.” Senator Daniel Inouye, a close friend of Stevens, commented: “As far as he’s concerned, he’s not guilty. And I believe him.”

Stevens was reportedly caught unawares on Tuesday when the indictment charge was filed. “Apparently, the media knew about it before he did,” Inouye stated, adding that he had just talked to Stevens. Ted Stevens was in a meeting with other Republicans when he found out about the charge.

Stevens is the longest-serving Republican senator in history and is up for reelection this November. Calls to his office in Washington for comment were redirected to a voicemail indicating that his “office is closed.”

The United States Department of Justice says it has already obtained seven convictions in the case: Peter Kott, a former Speaker of the Alaska House of Representatives; Thomas T. Anderson, a former state representative; Victor H. Kohring, another representative; James A. Clark, chief of staff to the former governor of Alaska; William Bobrick, a lobbyist; Bill Allen, VECO chief executive; and Richard L. Smith, VECO vice president of government relations.

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News briefs:June 26, 2006

The time is 18:00 (UTC) on June 26th, 2006, and this is Audio Wikinews News Briefs.

Contents

  • 1 Headlines
    • 1.1 East Timor Prime Minister resigns
    • 1.2 Israeli soldier taken captive
    • 1.3 King’s Cross railway station in London evacuated
    • 1.4 Production of oil in Iraq reaching new highs
    • 1.5 Stem cells used to cure paralysis in rats
    • 1.6 New Zealand house prices to fall says the Reserve Bank Governor
    • 1.7 Pamela Anderson visits Greece, promoting the MAC AIDS Fund
    • 1.8 Australian man arrested after dragging dead possum behind car
    • 1.9 Digg 3.0 released
  • 2 Closing statements

[edit]

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Wikinews interviews former Republican U.S. Senator Bob Smith on his latest run for office

Sunday, June 21, 2009

Earlier this month, former Republican U.S. Senator Bob Smith announced his candidacy for Florida’s open Senate seat in the 2010 midterm election. Smith, who was one of New Hampshire’s senators for two terms — which amounts to twelve years — said he is running for office in his recently adopted home state due to his disapproval of the direction in which America is headed. He is very optimistic about the conservative change he can potentially bring to Congress which is currently controlled by liberal-minded members of the Democratic Party.

Smith has, however, some major hurdles to overcome in the Republican primary. He is facing two well known politicians who have been elected to statewide office numerous times. The chief of these is current Governor Charlie Crist, a moderate-to-liberal who is currently leading in the polls. The second is former Speaker of the Florida House Marco Rubio, a center-right 38-year-old who has been criticizing Crist for months on the support he has shown for President Barack Obama’s controversial economic stimulus package.

Despite trailing both in recent polls, Smith believes that the polls themselves are irrelevant as the primary is over one year away. He is devoting the remainder of this summer to building up grassroots and financial support for his campaign.

Wikinews reporter Joseph Ford had the opportunity to speak with him about his run this past weekend.

“We must deliver a message that appeals to all members of the Republican Party, and that will appeal to Floridians in the general election,” Smith proclaimed. “I am in this race because I want to make my experience as a U.S. Senator available to my fellow Floridians.”

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Homeopathy proponents jailed for allowing daughter to die

Wednesday, September 30, 2009

In Sydney, Australia, Thomas and Manju Sam were jailed after being convicted of manslaughter on Monday. The court found they had failed to take their ill daughter to medical appointments, and shunned the effective conventional medical treatments offered. Instead they chose homeopathic ‘alternative’ medical treatments which the medical profession generally considers to be pseudoscience. As a result, their then nine-month-old malnourished daughter Gloria died of the skin disorder eczema in 2002.

In the evidence, the Crown prosecutor, Mr Tedeschi, said that the Sams ignored repeated advice to send Gloria to a skin specialist for her eczema. The severity of her condition made her skin so thin that it was constantly breaking and becoming infected. Creams provided by medical doctors were not used; they preferred to employ homeopathic drops as a method to treat her illness. By the time they finally sought treatment, “her skin was weeping, her body malnourished and her corneas melting”, and she died from the complications and massive infection caused by the effectively untreated eczema.

Gloria suffered helplessly and unnecessarily … from a condition that was treatable.

In his ruling, Supreme Court Justice of New South Wales Peter Johnson stated that “Gloria suffered helplessly and unnecessarily … from a condition that was treatable.”

Thomas received a maximum sentence of eight years and is no longer allowed to practice homeopathy. Manju received a maximum sentence of five years and four months.

Homeopathy is a form of alternative medicine which uses substances that have gone through a process of serial dilution so extensive that in most cases, no molecules of the original are likely to remain. There is no convincing evidence that it has any effect greater than placebo. For it to work as homeopaths claim, basic well-tested scientific laws would have to be wrong.

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We Will Benefit A Lot From Blood Type Of Losing Weight

We will benefit a lot from blood type of losing weight

by

lixi

Blood type method of losing weight is to lose weight to the end. Various blood people have various forms of personality, and then is there a different way to lose weight. Copyreader has a share in the kind of people and of kind blood type weight loss methods with you, calling attention to the food of all blood types of different people have different functions well. The blood type diet to lose weight will help you lose weight more quickly and effectively.

We have different forms of blood. Most people have form O blood, the other is the A-and B-type, but is relatively rare form AB. We know, blood type will affect character, so, if blood type to everyone\’s impact on reducing weight? The answer is yes.

According to a natural therapy doctor, Peter j. D \’Adamo version of the story, different types of people lose weight, with their respective can eat and can\’t eat food. In his book \”different blood type to eat different foods, had a different life\”, he explains why different blood should eat and should not eat some food, and every type of exercise should be different.

[youtube]http://www.youtube.com/watch?v=MJA4_Ctay_w[/youtube]

D \’Adamo explains Dr. about blood type diet, blood type, your body\’s chemical elements, it will affect how your body absorb nutrients, and therefore the classification of food according to blood type. Blood type diet, not only can lose weight, also can improve immune system function, improve personal compressive capacity, increase your energy level. On the other hand, the diet promote blood type of individual healthy life.

According to Dr.Adamo saying, O blood type diet should follow a low carbohydrate, high protein diet rules. Therefore, they should eat more fish, vegetables and fruits. Their diet should not focus on food, eating too much food grains may be not conducive to their health. And in the movement, the person of O blood can be personal aerobic exercise, in keep health at the same time also can burn fat, reach the effect losing weight.

The A-type blood people should avoid red meat, wheat and dairy products. Their weight loss diet should be controlled in fish, vegetables, legumes, grains and tofu. Blood type A weight loss exercise is recommended to those gentle stretch of light exercise, such as yoga and meditation.

B-type blood people may indulge in meat, dairy products, vegetables, legumes and fruits. However, they should avoid peanuts, chicken, lentils and corn. The B blood type weight loss exercise is recommended cycling and walking, these two movements is more suitable for B-type blood.

To loose weight in right ways, you would need to exercise frequently. Then the

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running shoes will help you a lot for the leisure and running exercise.

Article Source:

ArticleRich.com

Low Budget Option Trading Strategies

By Brad Levi

I am sure we would all like to make a lot of money with the best option trading ideas. In fact, there are concepts and methods that can be implemented using a small options trading account, for example, using a $,2000 account, and risking $300 – $500 on single, selective, and fair probability trades. These are the trades that would have a smaller probability of going well, than the rest we usually do, but they can often have a huge profit potential. And I mean huge beyond anything you can imagine!

We are going to discuss 2 such high profit potential concepts, and one small profit potential concept. They are all considered low budget option trading ideas, and can be implemented using ATM or OTM options.

1.Capturing company mergers and acquisitions phases

2.Capturing technical momentum breakouts

3.Ways to trade OTM options in high probability setups

Lets see them in detail, concept 1 is well known, but is it really possible to know where the next merger will occur? The fact is that most of the mergers happen during market tops and bottoms, they dont happen as often in a any other period. In fact the vast majority of companies, do that! During market tops and bottoms, so you only have to watch out just before that major market top or bottom. That is the top of a bull market and the bottom of a bear market, but there are also, other rare cases in between, where a merger may be detected.

It takes a lot of research, fundamental research and market savvy to figure out what weak balance sheet companies could merge with what strong companies. And how they see mutual benefits. If you cant do it yourself, you can still find experts who perform this fundamental analysis, follow the news closely, and could provide you with the list of the favourable candidates.

Beyond that, you should also understand yourself how this works, for example: what if company A merges with Company B? And if A is much bigger and stronger than B, then Bs stock price will skyrocket! And not only you can buy Bs stock at a low price, but if the merger is set to take place during a bear market bottom, then both the stocks of A and B will be significantly lower than their actual intrinsic value, or just way lower than their 5 year highs!

Actual profit potential on company mergers is enormous, sometimes you can turn $500 into $30,000 by just buying a cheap ATM or OTM Call option! It may sound like a long shot bet, but it doesnt have to be like that! You can increase the probability of winning by doing your own research at the right time, and on the most likely candidate stocks. That way you know, that you are really getting the odds on your side, even if you place a series of 10 trades, at $500 each, and 8 trades lose say 50% of their value because of the merger plans being cancelled, you can still make a fortune on the remaining two!

[youtube]http://www.youtube.com/watch?v=AWqgegFjyNo[/youtube]

If we assume you lose a total of $2,000 on the trades gone bad, and this is a worst case scenario! You still get 2 mergers right, and you get in early in the options trade, what if these two trades make a 20fold gain on your $500 option trade? You get back $20,000 from these 2 accurate trades!

This technique is possible and requires a lot of market savvy in analyzing and monitoring company news and their business outlook.

Then we have technique number 2, capturing technical momentum that is about to be released. Well believe it or not, most of the time, high volume, quality stocks whose companies are about to merge, DO produce technical indications on the charts. These indications are foretelling of a huge breakout to occur, even though we cannot be so sure about the direction, with a little bit of more digging into the news and fundamentals we can gain more insight as to what the most likely scenario is.

Please be aware that option brokers are the market makers here, they will use all information available to price their option premiums. The good news is that they can only use what is out there, and as we have seen, the options pricing formula uses stock parameters that are merely a story about the past. In no way does implied volatility accurately predict stock price fluctuation, it does provide accuracy on average, and over 1000s of stocks so that option brokers adjust the premiums at a fair price. Call options sellers (From whom you will buy your Call option) will be paid a fair premium.

But this doesnt mean they cannot be completely wrong on a single stock, of course they can be wrong!

This is like car insurance companies, their insurance premiums are calculated to protect the company against the average expected loss, and sure the company will never lose money in the long term. But they cannot predict and pinpoint the driver that will make the next massive claim, neither are they clever enough to identify the number of fraudulent claims some savvy car drivers successfully make!

Statistics works collectively, but is not a crystal ball! And the option pricing formula often gets caught, completely off guard when a technical breakout occurs, that is because this formula doesnt take technical analysis into account!

In fact some people and some academics dont believe in technical analysis at all.

For the rest of us who do believe in technical analysis, we have seen it very often, proving market makers and their option premiums wrong!

Check out this simple triangle formation on the Microsoft stock (MSFT), this pattern is a very reliable breakout pattern, and the options pricing formula does not see it:

In such cases, or even other even more dramatic cases, you can buy cheap ATM options, and make a very good profit. The option market makers will offer you a cheap ATM option, or even a really cheap OTM option. In the above case of Microsoft, an OTM option could be really cheap, and have a Delta of around 10. A Delta of 10 means that the option will only make $0.10 for every $1 the stock moves higher, up until it becomes ITM. A Delta of 10 also tells you that they believe this option has a 10% probability of expiring in-the-money, and it may sound discouraging, almost like a lottery ticket. But the technical analysis picture above tells me that the stock will prevail over the option pricing formula and the low Delta! The only thing I need is enough price movement.

This is just an event of uneven probability, (event A is far more likely than event B) here we know that they have kept premiums low, even though we know volatility will breakout soon, and I also know the stock will most likely go up. I can therefore profit from this move by risking a very small amount of money!

Again, like I mentioned, these opportunities emerge here and there, everyday in the markets. The probability is there, to actually outsmart the market makers by profiting big, from a cheap option. Like I said, from an opportunity perspective, its equivalent to fooling a car insurance company and making a fraudulent claim, one that their experts cannot understand.

Bear in mind that Mergers and Technical breakouts can sometimes coincide, you may get technical confirmation of the suspected merger, even though we treat them separately!

Finally, we have the 3rd concept mentioned in this article, that is trading only OTM options, ideally selling them. This is not something new, but we need to focus on the low-budget option trading principle!

By observing implied and historical volatilities, using Anlayzetrade.com back testing tools, one can sell OTM options when these are the most expensive, and then buy them back when they become cheaper (When implied volatility is low compared to implied volatility range, and historical volatility range)

Selling options is not a low budget strategy, but there are ways and strategies that take care of this by implementing protection, (covered option writing) where the trader finds the opportunity to write options, then also finds a trade to hedge this risk just to minimise the margin requirements of the broker, and make it indeed a low budget selling strategy.

For example we have seen Calendar spreads, where you can profit from the fast time decaying option, while staying protected from moderate adverse moves. This eliminates the need of a large account size. But we can also devise trades where the objective is to profit from the underlying stocks move, while being sellers. Again popular ideas are not very profitable or smart. You still need stock-specific, technical analysis based strategies. But they do work! And Analyzetrade.com offers just the tools required to develop these strategies. The objective here is to write ITM options of high value, that will become OTM and cheap, within few days.

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Woman finds human finger in bowl of chili at Wendy’s restaurant

Thursday, March 24, 2005

San Jose, California — A woman eating a bowl of chili at a Wendy’s restaurant bit into a chewy bit that turned out to be a human finger. She immediately spat it out, warned other patrons to stop eating, and upon recognizing the object as a finger, vomited.

“I’m more of a Carl’s Jr. person,” the 39-year-old Las Vegas woman, Anna Ayala, told Knight Ridder. She said this incident was her first visit to a Wendy’s restaurant. Ayala described how she found the finger, “Suddenly something crunchy was in my mouth,” she continued, “and I spit it out.”

According to Devina Cordero, 20, after Ayala found the finger, she ran up to her and Cordero’s boyfriend and said, “Don’t eat it! Look, there’s a human finger in our chili.”

“We went up to the counter and they told us it was a vegetable,” Cordero continued. “The people from Wendy’s were poking it with a spoon.”

The restaurant is located at 1405 Monterey Highway, just south of downtown San Jose.

Wikinews reporter David Vasquez drove his car up to the drive-thru menu and found that chili was still on the menu, at a price of US$1.19 for a small serving. He also witnessed workers unloading supplies from a semi-trailer truck in the restaurant’s parking lot, and carting them into the back door of the establishment.

According to Ben Gale, director of environmental health for Santa Clara County, the finger did not come from any of the employees at the restaurant. “We asked everybody to show us they have 10 fingers and everything is OK there,” he said. The found portion of the finger likely belonged to a woman because of its long and manicured fingernail, also found in the food.

Officials seized the food supply at the restaurant and are tracing it back to the manufacturer, where they believe the finger may have gotten mixed in with the raw ingredients used to prepare the chili. The restaurant’s operators were later permitted to re-open after preparing new chili prepared from fresh ingredients.

As this story was filed, there was no mention of the incident on the Wendy’s corporate web site. Wendy’s issued a statement through a spokesman.

“Food safety is of utmost importance to us,” said Wendy’s spokesman Joe Desmond. He referred to the incident as an “unsubstantiated claim.”

“We are cooperating fully with the local police and health departments with their investigation. It’s important not to jump to conclusions. Here at Wendy’s we plan to do right by our customers,” Desmond said.

According to county health officials, the unfortunate woman who bit into the finger is doing fine, despite her initial reaction. Officials also noted that the finger would have been cooked at a high enough temperature to destroy any viruses.

The Santa Clara county medical examiner reported that the finger had a solid fingerprint, although investigators did not say if a search of fingerprint databases would be performed to find the owner of the finger.

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
Categories Uncategorized

Woman finds human finger in bowl of chili at Wendy’s restaurant

Thursday, March 24, 2005

San Jose, California — A woman eating a bowl of chili at a Wendy’s restaurant bit into a chewy bit that turned out to be a human finger. She immediately spat it out, warned other patrons to stop eating, and upon recognizing the object as a finger, vomited.

“I’m more of a Carl’s Jr. person,” the 39-year-old Las Vegas woman, Anna Ayala, told Knight Ridder. She said this incident was her first visit to a Wendy’s restaurant. Ayala described how she found the finger, “Suddenly something crunchy was in my mouth,” she continued, “and I spit it out.”

According to Devina Cordero, 20, after Ayala found the finger, she ran up to her and Cordero’s boyfriend and said, “Don’t eat it! Look, there’s a human finger in our chili.”

“We went up to the counter and they told us it was a vegetable,” Cordero continued. “The people from Wendy’s were poking it with a spoon.”

The restaurant is located at 1405 Monterey Highway, just south of downtown San Jose.

Wikinews reporter David Vasquez drove his car up to the drive-thru menu and found that chili was still on the menu, at a price of US$1.19 for a small serving. He also witnessed workers unloading supplies from a semi-trailer truck in the restaurant’s parking lot, and carting them into the back door of the establishment.

According to Ben Gale, director of environmental health for Santa Clara County, the finger did not come from any of the employees at the restaurant. “We asked everybody to show us they have 10 fingers and everything is OK there,” he said. The found portion of the finger likely belonged to a woman because of its long and manicured fingernail, also found in the food.

Officials seized the food supply at the restaurant and are tracing it back to the manufacturer, where they believe the finger may have gotten mixed in with the raw ingredients used to prepare the chili. The restaurant’s operators were later permitted to re-open after preparing new chili prepared from fresh ingredients.

As this story was filed, there was no mention of the incident on the Wendy’s corporate web site. Wendy’s issued a statement through a spokesman.

“Food safety is of utmost importance to us,” said Wendy’s spokesman Joe Desmond. He referred to the incident as an “unsubstantiated claim.”

“We are cooperating fully with the local police and health departments with their investigation. It’s important not to jump to conclusions. Here at Wendy’s we plan to do right by our customers,” Desmond said.

According to county health officials, the unfortunate woman who bit into the finger is doing fine, despite her initial reaction. Officials also noted that the finger would have been cooked at a high enough temperature to destroy any viruses.

The Santa Clara county medical examiner reported that the finger had a solid fingerprint, although investigators did not say if a search of fingerprint databases would be performed to find the owner of the finger.

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
Categories Uncategorized